01
Balance between gifts
Check whether fixed amounts, specific assets and the residue still produce the balance you intended after the estate changed.
The legal position
An inherited asset that becomes your personal property forms part of your estate unless it is later held through an arrangement that passes outside the estate, such as joint tenancy or an applicable trust structure. A residuary gift generally captures property remaining after debts, expenses and specific gifts; a fixed-dollar gift does not increase merely because the estate becomes larger.
What may need attention
02
How the inheritance is held
Ownership, trusts, jointly held assets and superannuation can affect whether an asset is controlled by the Will.
03
New complexity
A larger estate can increase tax, asset-protection, family-provision and administration considerations that need professional input.
When professional advice matters
Seek legal, tax and financial advice before restructuring inherited assets or making significant new gifts, particularly where trusts, overseas assets, vulnerable beneficiaries or family disputes are involved.
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General information only, not legal, financial, tax or medical advice. The effect of a life event depends on your jurisdiction, documents and circumstances.